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Council’s AA credit rating reaffirmed
NEWS RELEASE
from the Hutt City Council
25 August 2009
Council’s AA credit rating reaffirmed
Standard and Poor’s has reaffirmed Hutt City Council’s AA credit rating.
In its report, the rating agency lists Hutt City’s key strengths as being low debt levels, solid cash operating balances, and limited exposure to risks associated with Council Control Trading Organisation ownership.
The report goes on to note council’s “track record of prudent financial management”.
Mayor David Ogden says the rating is a strong endorsement of the financial strategy the council has followed in recent years.
“The council has worked very hard to get the balance right between keeping rates and debt levels down and continuing to invest in services and infrastructure.
“This rating confirms we are on the right track,” he said.
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